Major derivatives market Chicago Mercantile Exchange Group will launch options trading on its microbitcoin and ether futures products.
CME Group said on Tuesday that, subject to regulatory review, it plans to launch options contracts for its existing microbitcoin (BTC) and microether (ETH) futures, which will be 10% of the size of the respective tokens. The futures options, which are expected to start trading on March 28, come more than two years after the firm launched the BTC options trading product in January 2020 and more than four years after the group launched the first bitcoin futures contract in december 2017.
“Based on the strength and liquidity of the underlying contracts, our micro-options will enable traders of all sizes to effectively hedge market-changing events with greater accuracy and flexibility, or fine-tune their positions in the cryptocurrency market,” said CME Group Global Head. stocks and currency products, Tim McCourt.
Meet the latest additions to the CME Group Cryptocurrency product line – Micro Bitcoin and Micro Ether options – available for trading on March 28th. https://t.co/pPL9JRshkD – CME Group (@CMEGroup) March 1, 2022
The microether futures contract size that CME launched in December 2021 is 0.1 ETH and the bitcoin futures contract size is 0.1 BTC and they have been trading since May 2021. According to the CME Group, the minimum block threshold for options is 10 contracts for micro BTC and 100 for micro ETH. Genesis Global Trading, Cumberland and Akuna Capital are expected to provide liquidity for cryptocurrency investment vehicles.
Related: CME Group Introduces Microbitcoin Futures
The announcement came after the price of BTC surged over 15% from $38,000 to a 7-day high of $44,816. According to data from Cointelegraph Markets Pro, the price of ETH saw a similar rise, climbing to a two-week high above $3,000. The price movement may be partly due to the financial fallout from the Ukrainian war, which has led to speculation that the Russian government may be trying to use digital assets to circumvent sanctions.
Major derivatives market Chicago Mercantile Exchange Group will launch options trading on its microbitcoin and ether futures products.
CME Group said on Tuesday that, subject to regulatory review, it plans to launch options contracts for its existing microbitcoin (BTC) and microether (ETH) futures, which will be 10% of the size of the respective tokens. The futures options, which are expected to start trading on March 28, come more than two years after the firm launched the BTC options trading product in January 2020 and more than four years after the group launched the first bitcoin futures contract in december 2017.
“Based on the strength and liquidity of the underlying contracts, our micro-options will enable traders of all sizes to effectively hedge market-changing events with greater accuracy and flexibility, or fine-tune their positions in the cryptocurrency market,” said CME Group Global Head. stocks and currency products, Tim McCourt.
Meet the latest additions to the CME Group Cryptocurrency product line – Micro Bitcoin and Micro Ether options – available for trading on March 28th. https://t.co/pPL9JRshkD – CME Group (@CMEGroup) March 1, 2022
The microether futures contract size that CME launched in December 2021 is 0.1 ETH and the bitcoin futures contract size is 0.1 BTC and they have been trading since May 2021. According to the CME Group, the minimum block threshold for options is 10 contracts for micro BTC and 100 for micro ETH. Genesis Global Trading, Cumberland and Akuna Capital are expected to provide liquidity for cryptocurrency investment vehicles.
Related: CME Group Introduces Microbitcoin Futures
The announcement came after the price of BTC surged over 15% from $38,000 to a 7-day high of $44,816. According to data from Cointelegraph Markets Pro, the price of ETH saw a similar rise, climbing to a two-week high above $3,000. The price movement may be partly due to the financial fallout from the Ukrainian war, which has led to speculation that the Russian government may be trying to use digital assets to circumvent sanctions.
